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Example of the optimal Kelly betting fraction, versus expected return of other fractional bets. In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet) is a formula for sizing a sequence of bets by maximizing the long-term expected value of the logarithm of wealth, which is equivalent to maximizing the long-term expected geometric growth rate.
John Larry Kelly Jr. (December 26, 1923 – March 18, 1965), was an American scientist who worked at Bell Labs. From a "system he'd developed to analyze information transmitted over networks," from Claude Shannon's earlier work on information theory , he is best known for his 1956 work in creating the Kelly criterion formula.
Kelly betting or proportional betting is an application of information theory to investing and gambling. Its discoverer was John Larry Kelly, Jr. Part of Kelly's insight was to have the gambler maximize the expectation of the logarithm of his capital, rather than the expected profit from each bet. This is important, since in the latter case ...
Moira Kelly was born in Queens, New York on March 6, 1968. She is the daughter of a trained concert violinist, Peter, and a nurse, Anne, who are Irish immigrants. Kelly is the third of six children and was raised in Ronkonkoma, New York. She was brought up as a Catholic. [3]
The Criterion Closet is a film closet owned and stocked by The Criterion Collection, a home video distribution company based in New York City with a specific emphasis on licensing, restoring, and distributing "important classic and contemporary films."
Family Pictures is a 1993 American made-for-television drama film based on the novel of the same name by Sue Miller. It was directed by Philip Saville and stars Anjelica Huston , Sam Neill , Kyra Sedgwick , and Dermot Mulroney .
Corcoran was born in Quincy, Massachusetts, [3] the third of eight children to William Henry "Bill" Corcoran, Sr. and Kathleen Hildegarde Corcoran (née McKenney). Her siblings, William Henry "Bill Jr.," Donna, Kerry, Hugh, Kevin, Brian and Kelly, all acted as children. [4] She attended Fresno State University from 1962–1964, but did not ...
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